Walmart tops Fortune 500 for 11th consecutive year

Walmart topped the 2023 Fortune 500 list for the 11th year in a row, while Amazon took the second spot for the fourth year running.

Context: Walmart has been running one primary type of business for about 60 years. Amazon, meanwhile, has spent half that time on two or three major services — online retail, cloud computing and online advertising.

The intrigue: Both giants are pursuing health care to drive future growth.

• Walmart inked a decade-long deal with UnitedHealth last year to provide care to seniors on Medicare Advantage plans.
• Amazon last year agreed to acquire One Medical, the primary care chain, which also offers virtual health care.

Go deeper

• Amazon leans into logistics as a service